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Union Bank records steady growth with favourable 1Q results - Adaderana Biz English

Union Bank records steady growth with favourable 1Q results
April, 30, 2021
Core Banking Growth and Profitability
Union Bank ended the first three months of 2021 with a strong performance, reflecting a steady growth momentum and fueling favourable expectations.
Union Bank’s core banking performance was propelled by focused efforts on strategically significant product and service propositions. Despite challenges that continued to prevail during the review period, the Bank’s re-strategised product and service prioritisation and swift action to capitalise on the positive sentiments in the macro-economic dynamics since the roll-out of the vaccination campaign, paved the way for this growth in the first quarter of 2021. ....

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Seylan records Rs. 3 bn PAT

Seylan records Rs. 3 bn PAT
dailynews.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailynews.lk Daily Mail and Mail on Sunday newspapers.

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Seylan Bank records Rs. 3Bn profit after tax for 2020

Income Statement
Interest
Income of the Bank stood at LKR 52.3Bn while interest expenses stood at LKR
32.8Bn reflecting a Net Interest Income (NII) of LKR 19.5Bn with an annual
growth of 4.6% in the year under review. The main contributor for NII was the
loans and advances portfolio that generated interest income of LKR 41.7Bn
during the year whilst the Treasury operations generated LKR 8.5Bn in interest
income. Interest expenses on deposits stood at LKR 27.8Bn recording a decline
from LKR 30.7Bn from the previous year. Deposits that were re-priced during the
year helped the Bank to reduce its funding cost. ....

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